this is all the information that was given ise the indirect method to create a statement of cash flow

1. According to FAS 95, what is the Purpose of the Statement of Cash Flows? What benefits does it provide to investors, creditors, and others? 2. Using the Indirect Method, prepare a statement of cash flows using the information provided below and the following these steps: Step 1: Determine Net Cash Flows from Operating Activities Step 2: Determine Net Cash Flows from Investing Activities Step 3: Present ret Cash Flows from Financing Activities Step 4: Reconcile Total Net Cash Flows to Change in Cash Balance during the Period according to the increase or decrease in Cash on the balance sheet for the two years (2021 minus 2020) Be sure to use the standard format for the Statement of Cash Flows per Chapter 15 of the fextbook. Information Given - The Balance Sheet and Income Statement for 2021 and 2021 for Star Corporation are presented below. - Those financial statements include the following information (A) Star Corporation sold land with an original cost of $10,000 for $14,800 cash. (B) Star purchased a new pareel of land for $20,000 in exchange for a note payable. (C) Plant assets were purchased by Star for $40,000cash. (D) Star declared and paid a $440 eash dividend to shareholders. (E) Star issued (sold to the public) common stock in exchange for $45,000 cash. Star Corporation Consolidated Balance Sheet As of December 31, 2021 Assets Current assets: \begin{tabular}{l|l} 2021 & 2020 \\ \hline \end{tabular} Cash Accounts Receivable Inventory \begin{tabular}{|r|r|} \hline$47,000 & $24300 \\ \hline 21.500 & 26,000 \\ \hline 48,000 & 45,500 \\ \hline \end{tabular} Pre-paid Insurance Land Fixed Assets Accumulated Depreciation Net Fixed Assets Total Assets Star Corporation Consolidated Income Statement For the Period Ending December 31, 2021 Revenue Gross sales Less: Cost of Goods Sold Gross Profit Operating Expenses Depreciation Expense Insurance Expense Salary Expense Other Expenses Total Operating Expenses Net operating income Other Revenue and Expenses Gain on Sale of Land Minus Income Tax Expense Minus Interest Expense \begin{tabular}{|r|} \hline 4,800 \\ \hline1,860 \\ \hline3,500 \\ \hline \end{tabular} Total other income Net income (Loss)